Alphabet

Alphabet, Inc. (NASDAQ:GOOGL) engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products. It operates under the Google Services and Google Cloud segments. The Google Services segment includes ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube. The Google Cloud segment offers Google Cloud Platform and Google Workspace. The company was founded by Lawrence E. Page and Sergey Mikhaylovich Brin on October 2, 2015 and is headquartered in Mountain View, CA.

CFRA Maintains Buy Opinion On Shares Of Alphabet Inc.

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CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We up our 12-month target to $157 from $142, on a P/E of 21x our 2025 EPS estimate, which we initiate at $7.46, below its historical forward averages. We keep our 2023 EPS estimate at $5.70 but raise 2024 to $6.57 from $6.44. Ahead of Q3 results set after the close on 10/24, we see upside to Q3/Q4 consensus views given improving trends within both Search and YouTube along with robust cloud growth. We conservatively look for GOOGL Search growth of 6% to 8% in Q3/Q4 (5% in Q2/2% in Q1), as digital ad trends remain favorable while greater AI emphasis supports higher ROI and overall ad spend. We see YouTube growth accelerating to over 10% in Q3/Q4 (+4% in Q2), on easier comps, greater Shorts monetization, […]

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